Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5059309 | Economics Letters | 2014 | 4 Pages |
Abstract
This article proposes a nonlinear scoring rule which transforms multiple attributes of a bid into comparable dimensionless ones. Practically, the buyer can use it to select the most competitive winner. For risk-neutral bidders, we characterize a symmetric Bayes-Nash equilibrium and find that as the number of bidders increases the equilibrium quality improves, whereas the equilibrium price decreases.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Mingxi Wang, Shulin Liu,